Nanonets gets Accel India’s backing to improve AI-based workflow automation

Nanonets, a startup using AI to automate back-office processes, has raised $29 million in a new funding round led by Accel as it seeks to improve the accuracy of automation processes that involve large amounts of unstructured data.
Processing unstructured data from documents like invoices, receipts and purchase orders often involves repetitive tasks and a lot of human resources. Nanonets, which primarily targets the financial services sector, says its AI platform aims to improve the efficiency of these processes and make them cost-effective.
A Y Combinator alum, the startup has built an AI platform through which it offers no-code solutions that, …